Wendy's

2570 Commerce Parkway, Bunnell, FL 32110

$2,225,000

Cap Rate 5.22%

$2,395,000

Cap Rate 4.85%

Views: 70 DOM: 85 Updated: 11.30.23 Posted: 07.08.23 Status: Sold 10.02.23

Summary

Price $2,225,000 $2,395,000	Built/Renov 2011	Tenant Wendy's
Cap Rate 5.22% 4.85%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,276	Lease Start 07-02-2018	#Units 90
Price/SF $679.18 $731.07	Expiration 07-31-2038	Tenant Type Fast Food/QSR
NOI $116,105	R. Term 13.9	Ownership Fee Simple
Rent/SF $35.44	Increases 10.0%/5/yrs	Pop 5Mi 52,828
Lot/AC 2.12	Options 1/10yrs/10%	AHHI 5Mi $73,753

Jeff Lefko

Hanley Investment Group

Contact

Lease Highlights

Tenant has 15 years remaining on its current lease term with 1 (10-year) option to extend
10% Increases every 5 years
Absolute NNN | Zero Landlord Responsibilities
Income tax-free state
Franchisee guaranteed by Gold Coast Holdings

Location Description

The site is conveniently located with excellent visibility on the corner of Commerce Parkway and Moody Boulevard with prominent street visibility and direct access to 45,000 VPD. The subject property is surrounded by a strong mix of local and national retailers including Target, Ulta, Publix, TJ Maxx, Petsmart, Ross, Michaels, ALDI, Tractor Supply, McDonald’s, and Walgreens among others. The...

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Key Features

Hard corner intersection
Major thoroughfare
Near major nationals
Highway location
Top 100 MSA
Population increase trend
Long 15+ yr lease
Absolute NNN
Traded and rated company
50+ unit franchisee backed

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Links

Wendy's Wikipedia Wendy's Wikipedia Bunnell, Florida Zip Code 32110 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wendy's
Guarantor:Franchisee
Company:Gold Coast Holdings
# Units:90
Tenant S&P: B+
Moody’s: B3
Stock:NASDAQ: WEN

About Tenant

Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company, together with its subsidiaries, operates as a...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,691	32,833	63,446
2023 Total Population :	3,518	27,014	56,162
2023 Employed Civilian Pop :	1,165	10,388	23,002
2023 Total Businesses :	283	980	1,367
2023 Average Household Income :	$ 76,359	$ 83,167	$ 86,466
2023 Total Consumer Spending :	$ 107 M	$ 764 M	$ 1673 M
2023 Median Age :	49	42	43
2023 Total Households :	1,617	10,604	22,324
2023 Pop Age 25+: Bachelor's Degree :	455	2,938	6,829
2023 Average Home Value :	$ 317,291	$ 299,240	$ 309,486

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Hwy 100	Utility St	2008	13,600	0.49 mi
FL 100	Briarwood Path	2021	12,400	0.52 mi
East Moody Boulevard	N Palmetto St	2021	12,200	0.67 mi
E Hwy	Belle Terre Pkwy	2008	13,544	0.97 mi
Easthampton Boulevard	Ehrling Ln	2021	1,300	1.14 mi
State Street	E Booe St	2021	12,100	1.18 mi
Belle Terre Boulevard	Zebulahs Trl	2021	5,300	1.19 mi
Belle Terre Boulevard	Zebulahs Trl	2019	5,500	1.19 mi
E Hwy 100	S Church St	2008	12,700	1.21 mi
S State St	E Ct Ave	2008	14,100	1.23 mi

Listing Broker

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